Trade-In Payoff,Trade-In Payoff Good Thru?

Payoff is a monetary value

Good thru is a date.

"Trade in payoff" is the amount quoted to you from your lender to close your loan out.

The "Payoff good thru" is the date that the payoff is good thru.

Your payoff adjusts daily based on the date and the daily interest you are being charge. Your lender will quote you a payoff calculated with 10 days of interest added on. Thus the term "10 day payoff"

It means call the lender, ask & write it down. The payoff is usually good for 10 days. So it changes every 10 days and with every extra payment.

Actually, I think the payoff could be a daily amount but for practical purposes, 10 days are commonly used.

When I paid my car off, I called the bank and they gave me an amount for 10 days. I sent a check, the sent me the title and that was the end of car payments for me. Where most people go wrong is they never pay off cars and continue to have car payments all their life. That keeps you from building wealth.

Hsjs

You call your lender to get the payoff amount on your auto loan. They give you the number and tell you "it's valid until ______ (date)". That's the info they are asking for on that form.